Budgeting system in nigeria

This will require a carefully co- ordinated approach, which recognises in general the less wasteful nature of a simpler fiscal policy, while appreciating the absolute necessity of encouraging innovation in the private sector. Frameworks to promote linkages between universities, science, engineering and technology institutions SETIs and the private sector are needed with a view to sharing risks, resources and insights with respect to precompetitive research. Government performs its role in a national system of innovation NSI by means of a set of functions which enables it to influence an environment, within its jurisdiction, in which innovation is being promoted. This system is expected to incorporate a regular process of external review of all government SETIs.

Budgeting system in nigeria

It can be argued that it is only through the instrumentality of the budget that the State can allocate resources to deliver services to the people especially the poor and excluded. The focus on budget has assumed greater prominence in recent years with increasing democratization, civil society participation and the desire to respond to the development challenge of poverty.

Sarant regarded Nigeria's new budgeting system as "a flexible management approach which provides a credible rationale for reallocating resources by focusing on a systematic review and. Total revamping of Government Budgeting System in Nigeria plombier-nemours.com Development is the process whereby simple, low-income national economies are transformed into . This is why civil society organisations in Nigeria have been advocating for an open budget system. A budget is regarded as open if citizens have access to the key budget documents; have high level of involvement in the budgetary process and have access to procurement information.

In Nigeria, the return to civilian rule in May after many years of military rule not only put issues of budget in the public domain but brought out the role of parliamentarians and citizens in the budgetary process.

More importantly, although budgets were prepared and read during military regime, there was neither participation by civil society nor input from parliament. In fact, during the twenty nine years of military rule in Nigeria, the legislature was completely absent.

Disclaimer

In the past sixteen years after return to civil rule, the reality of budgeting in Nigeria is changing. Citizens, civil society organisations and parliament are engaging more with the process.

But there are still a lot of problems besetting the budgetary process in Nigeria. First and foremost, the budgetary process is not participatory. Citizens and communities do not participate in formulating policies and agreeing on projects that go into the budget.

Meanwhile, it has been documented that wherever participatory budget is implemented, it has expanded citizenship, empowered excluded groups, redefined rights, deepened democracy and stimulated civil society.

Corruption in any country starts from the budgetary process. In very corrupt countries, the budget is done in secret. Releases are done without the knowledge of citizens.

Procurement information is not made available to citizens and corruption is guarded and protected.

Budgeting system in nigeria

This is why civil society organisations in Nigeria have been advocating for an open budget system. A budget is regarded as open if citizens have access to the key budget documents; have high level of involvement in the budgetary process and have access to procurement information.

As a matter of fact, democracy will be meaningless if the citizens do not participate in how government raise and spend money.

It surveys the availability of eight key budget documents to members of the public: The Pre-budget statement is meant to disclose the parameters of the budget proposal including macro-economic assumptions. The enacted budget is the budget that has been passed into law by the legislature.

The in-year report is a monthly or quarterly report of budget implementation. The mid-year review is a comprehensive update of implementation in the first half of the year. The year-end report is the annual report of implementation.

The audit report is the audited annual account of the government. Only a few states are beginning to make effort to expand the access to budget information especially Ekiti, Lagos and Cross River States.

It is therefore not surprising that the level of corruption and poverty is very high in Nigeria. Anyone interested in the accelerated development of Nigeria must deal with the issue of corruption by increasing access of citizens to budget documents. Thirdly, the priorities of the budget are not in accord with the development challenges of the country and there is no synergy between plans, policy and budget.

We have always argued that there is the need for better public finance management across the world because of increasing inequality and non-inclusive growth.

The past five decades have witnessed monumental changes in the world. Global economic wealth has increased sevenfold and average incomes have tripled.

The major problem is that wealth is concentrated in the hands of a few people while majority of the people live in abject poverty.

The UNDP in its report documented that the three richest people in the world have assets that exceed the combined Gross Domestic Product of the 48 least developed countries. In Nigeria, for the past ten years, there has been increasing economic growth.

But at the same time, poverty is increasing. The budget must therefore prioritise pro-poor programmes and the challenges of poverty. Fourthly, there are several frivolous expenditures in the budget that will not stand any reasoning and logic.

For instance in the Federal Government budget, over million naira was budgeted for food in the presidency; over million naira for rehabilitation of villa facilities; over 27 million naira daily for newspapers in the Office of Secretary to the Government of the Federation and several security and welfare packages for various ministries, departments and agencies.

Finally the institutions and mechanisms for oversight of the budgetary process are weak. In any modern democracy, the legislature, civil society and media are expected to play oversight functions in addition to the internal control system put in place by the executive. A few days ago, the Vice-President, Prof.

Yemi Osinbajo announced that the Federal Government with start using zero based budgeting for its budgeting.

It is different from the current envelop budgeting or traditionally incremental budgeting whereby the planning is based on existing income and expenditure as the deciding factor in national planning levels, which often incurs waste and assumes previous costs as constant.How to guarantee Performance-Based Budgeting in Nigeria’s STI There is no gainsaying that the issue of budgeting in the public sector is the bedrock on which the success or failure of government programmes and projects rest and thus the realization or non-realization of .

responsible for poor budgeting in Nigeria. The final section suggests the way forward to having a good budgetary system.

2. METHODOLOGY In order to achieve the objectives of the study, the paper generated data mainly from existing literature on budgets. Content analysis was used. budgetary system and management of public resources in Nigeria.

Though the variables have high positive correlation but in Nigeria contex t seem to embody type 11 err or as it is negative in.

Related posts

A description of the Planning-Programming-Budgeting System (PPBS), a management tool to provide a better analytical basis for decisionmaking and for putting such decisions into operation. A PPBS is constituted, basically, of five elements: (1) a program structure — a classification of the courses.

Budgeting System In Nigeria.

Budgeting system in nigeria

Nigeria Correctional Systems 1 Nigeria Correctional System Chiquita Yusuff Axia College CJS/ Nigeria Correction System 2 “Protect the society; reform the prisoner.

If you cannot do the time, do not do the crime”. This is the motto used by the country of. How to guarantee Performance-Based Budgeting in Nigeria’s STI There is no gainsaying that the issue of budgeting in the public sector is the bedrock on which the success or failure of government programmes and projects rest and thus the realization or non-realization of government goals and objectives.

Public Sector Budgeting Process and Control in Nigeria | TheEconomy